Key Developments: Atlas Pearls and Perfumes Ltd (APCFF.PK)
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19 Apr 2013
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Latest Key Developments (Source: Significant Developments)
Atlas South Sea Pearl Ltd Issues New Ordinary Shares
Atlas South Sea Pearl Ltd announced that it has issued 8,000 fully paid ordinary shares on exercise of 8,000 unlisted options exercisable at AUD 0.05 each, on or before January 29, 2014 and 1,336,179 fully paid ordinary shares as placement of the shortfall from the Company's non-renounceable entitlements offer that closed on January 18, 2013. Full Article
Atlas South Sea Pearl Ltd Announces Change In Financial Year End
Atlas South Sea Pearl Ltd announced that its Board of Directors has resolved to change the Company’s financial year end date from December 31 to June 30. Previously, the Company’s financial year commenced on January 1 and ended on December 31. The change in financial year requires the Company to lodge an annual report by September 30 2013 and hold an annual general meeting by November 30 2013 in respect of the transitional financial year. Full Article
Atlas Pearls and Perfumes Ltd Announces Issuance Of Shares And Convertible Notes; Announces Exercises Of Options
Atlas Pearls and Perfumes Ltd announced the issuance of 2,053,842 fully paid ordinary shares and 350,000 convertible notes. The 103,709 fully paid ordinary shares are issued at AUD 0.05 per share pursuant to the exercise of 103,709 unlisted options exercisable at AUD 0.05 each, on or before January 29, 2014. The 1,116,800 fully paid ordinary shares are issued at AUD 0.05 each as placement of the shortfall from the Company's Non-Renounceable Entitlements Offer that closed on January 18, 2013. The 350,000 convertible notes are issued at AUD 1.00 each as announced to ASX on October 25, 2012 and approved by shareholders in the General Meeting of Shareholders held on December 4, 2012. The funds raised from all issues will be used to support existing current assets; reduce existing debt in the Essential Oils of Tasmania business; fund research and development initiatives; fund increased production of strategic pearl by-product and perfume ingredients and commercialisation of new consumer products through World Senses Pty Ltd; fund expansion of the existing pearl auction strategy; and strengthen the balance sheet for general working capital purposes. Full Article
Atlas South Sea Pearl Ltd Announces No FY 2012 Final Dividend
Atlas South Sea Pearl Ltd announced that it has not paid a final dividend for the financial year ended December 31, 2012. Full Article
Atlas Pearls and Perfumes Ltd Announces Issuance Of New Ordinary Shares And Convertible Notes
Atlas Pearls and Perfumes Ltd (Atlas South Sea Pearl Limited) announced that it has issued 30,240,735 fully paid ordinary shares at an issue price of AUD 0.05 per share, and 100,000 convertible notes at an issue price of AUD 1.00 per note. The issue of 30,240,735 fully paid ordinary shares and 30,240,735 free attaching unlisted options pursuant to the non-renounceable entitlements offer Prospectus dated November 16, 2012. The issue of 100,000 convertible notes as announced to ASX on October 25, 2012 and approved by shareholders in the General Meeting of Shareholders held on December 4, 2012. Full Article
Atlas South Sea Pearl Ltd Announces Results Of Non-Renounceable Entitlements Offer
Atlas South Sea Pearl Ltd announced the results of the Non-Renounceable Entitlements Offer (Offer) to raise up to AUD 2,371,350 (before costs) which opened on November 30, 2012 and closed on January 18, 2013. The Offer was well supported by Eligible Shareholders with receipt of valid applications under the Offer raising AUD 1,512,036.75 (before costs) applying for a total of 30,240,735 new shares to be issued at AUD 0.05 per new share plus a total of 30,240,735 free attaching new options. Allotment and issue of the 30,240,735 new shares and 30,240,735 new options is expected to occur on January 29, 2013 with dispatch of holding statements and option certificates to occur on the same day and trading on ASX expected to commence on January 30, 2013. Full Article
Atlas South Sea Pearl Ltd To Change Name To Atlas Pearls And Perfumes Ltd
Atlas South Sea Pearl Ltd announced that following the incorporation of World Senses Pty Ltd (joint venture with Nomad Two Worlds) and shareholder approval obtained at the extraordinary general meeting held on December 4, 2012 for the broadening of the business to purchase Essential Oils of Tasmania (EOT) and expand the product range into luxury perfumes and cosmetics, the Company has advised a change of name to Atlas Pearls and Perfumes Ltd (Atlas P&P). The Company is now not only a producer of pearls but also of processed natural ingredients for the fragrance and flavor market. Full Article
Atlas South Sea Pearl Ltd Issues Ordinary Shares And Convertible Notes
Atlas South Sea Pearl Ltd announced that it has issued 13,333,334 fully paid ordinary shares at AUD 0.05 per share. 10,000,000 Fully paid ordinary shares were issued as consideration for the acquisition of all of the shares in Essential Oils of Tasmania Pty Ltd as announced on October 22, 2012. The funds raised from the issue of the remaining 3,333,334 fully paid ordinary shares and the 500,000 convertible notes (issued at AUD 1.00 per note) will be used to: support existing current assets; reduce existing debt in the Essential Oils of Tasmania business being acquired by the Company; fund research and development initiatives; fund increased production of strategic pearl by-product and perfume ingredients and commercialization of new consumer products through World Senses Pty Ltd; fund expansion of the existing pearl auction strategy; and strengthen the balance sheet for general working capital purposes. Full Article
Atlas South Sea Pearl Ltd's Subsidiary Won In Its Tax Appeal
Atlas South Sea Pearl Ltd announced that its subsidiary company in Indonesia, PT Cendana Indopearls, has won its tax appeals for the 2007 year. The Indonesian Tax Court in Jakarta handed down the decision on December 18, 2012. This decision will result in a tax return with interest to the company in the order of AUD 2 million. The timing of the return of funds will be advised upon receipt of written information from the tax authorities in Indonesia. This win has a positive effect on the company’s balance sheet. Full Article
Atlas South Sea Pearl Ltd Announces One For Five Non-Renounceable Entitlement Offer To Raise Up To $2.37 Million
Atlas South Sea Pearl Ltd announced a pro rata non-renounceable entitlement offer to subscribe for one new fully paid ordinary share for every five ordinary shares held by eligible shareholders at $0.05 per share to raise up to $2,371,350 before costs of the issue. In addition, there will be one free attaching unlisted option for every one share applied for in the entitlement offer. Each option will have an exercise price of $0.05 and is exercisable at any time in the 12 months following the date of grant. New shares issued under the entitlement offer will rank equally with all ordinary shares already on issue. Under the entitlement offer, Atlas will issue up to a maximum of 47,427,014 new ordinary shares, resulting in a total of up to 284,562,086 fully paid ordinary shares on issue. The funds raised (together with other fundraising initiatives previously announced) will be used to: support existing current assets; reduce existing debt in the Essential Oils of Tasmania business being acquired by the Company; fund research and development initiatives; fund increased production of strategic pearl by-product and perfume ingredients and commercialisation of new consumer products through World Senses Pty Ltd; fund expansion of the existing pearl auction strategy; and strengthen the balance sheet for general working capital purposes. Full Article
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